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Incentives or Tax deductions for Investment in Small and Medium Size Innovative Business

Posted on: 2/7/2018 7:04:26 AM under General News
The Cyprus Government aiming to give motive and to produce investments introduced a new framework with tax incentives for investments in small and medium sized innovative business. Under the new Article 9A of the Income Tax Law 2002 introduced by the Income Tax (Amendment)(No.2) Law 2016(135(i)/2016 qualified independent investors that make a risk-finance investment in an "innovative small and medium sized enterprise" are allowed to deduct the cost of the investment from their taxable income in the year the investment is made.

As reported in Gold News